Falling home prices are a great opportunity for a savvy homeowner looking to move up. Even though your home price may be lower, the smaller loss at sale will be compensated by greater savings at purchase, resulting in a significant net gain.
If home prices dropped by 5%, here's what it could look like if you decided to trade up.
Your Current Home Price = $200,000
Sell at 190K = $10,000 loss
Buy a home for $400,000
Buy at $380,000 = $20,000 Savings
Net Gain = $10,000
A BUYERS MARKET IS A
TRADING UP MARKET!
Call me today if you or anyone you know would like to move up. There might even be a tax advantage to moving up this year!
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